Shawbrook delivers a Fund Finance solution to assist Residential Secure Income Plc with refinance to further support the business
Residential Secure Income plc (ReSI), managed by Gresham House, has agreed an eight figure funding package, ensuring continued access to working capital and an accordion for ReSI’s future-proofing.
Specialist investment manager, Gresham House has worked with Shawbrook to secure an eight figure fund finance solution for its listed real estate investment trust, Residential Secure Income plc, to refinance an existing debt facility and further support the business in wind-down.
Residential Secure Income plc (ReSI) is a real estate investment trust that is implementing a managed wind-down strategy but has historically focused on delivering secure inflation-linked returns from its two preferred residential sub-sectors - shared ownership and independent retirement rentals.
ReSI was looking to secure continued access to working capital to further support the business strategy and was introduced to Shawbrook by advisor, BlueRock, who knew of the Bank’s reputation for fast responses, speed of execution and their experience in the NAV (Net Asset Value) and Fund Finance sector.
Shawbrook’s Speciality Finance team structured an eight-figure package, combining a revolving credit facility (RCF)for the refinance with the added flexibility of an accordion and short term-out on the loan to support the business through its managed wind-down.
Shawbrook’s team is well-known in the fund finance space as a group who understand the priorities and timelines for both fund managers and portfolio support. We are grateful to James and the team for moving swiftly to structure a fully bespoke solution that catered for ReSI’s immediate requirements as well as supporting ReSI through its reorganisation.
James Hill, Director, Speciality Finance, commented:
“Gresham House invests in long-term global themes such as social-impacted real estate including ReSI. We are delighted to have supported the group with a suitable and timely refinance facility and look forward to seeing the ongoing investment journey this client takes.
Shawbrook was introduced by BlueRock and supported by Osbourne Clarke for legal services. Gresham House and ReSI were assisted by Burgess Salmon.
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